WPX Energy Announces Public Offering of Senior Notes

August 08, 2017 08:00 AM Eastern Daylight Time

TULSA, Okla.--(BUSINESS WIRE)--WPX Energy (NYSE: WPX) announced today that it has commenced an
underwritten public offering of $150 million of its 5.25% Senior Notes
due 2024. The notes are expected to rank equally with, and be treated as
a single class with, the $500 million aggregate principal amount of
currently outstanding 5.25% Senior Notes due 2024 previously issued by
WPX.

WPX intends to use the net proceeds from the offering, together with, if
required, borrowings under WPX’s senior secured credit facility, to fund
the purchase of up to $150 million aggregate principal amount of its
outstanding 7.500% Senior Notes due 2020, 8.250% Senior Notes due 2023
and 6.000% Senior Notes due 2022 through cash tender offers. Any excess
net proceeds will be used for general corporate purposes, which may
include the repayment or redemption of outstanding indebtedness.

Wells Fargo Securities, LLC is acting as book-running manager for the
offering.

The offering is being made pursuant to an effective shelf registration
statement of WPX previously filed with the Securities and Exchange
Commission. The offering may be made only by means of a prospectus
supplement and the accompanying base prospectus. Copies of the
preliminary prospectus supplement for the offering and the accompanying
base prospectus may be obtained by sending a request to:

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities, in any state or jurisdiction in which such offer,
solicitation or sale of these securities would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.

The tender offers are being made solely pursuant to WPX’s Offer to
Purchase dated August 8, 2017 and this press release does not constitute
an offer to purchase any securities.

About WPX Energy, Inc.

WPX has posted double-digit oil volume growth each of the past five
years. The company is active in the Delaware, Williston and San Juan
basins. The Delaware Basin is the western portion of the greater Permian
Basin.

This press release includes “forward-looking statements,” including,
but not limited to, those regarding the proposed offering and the use of
proceeds. All statements, other than statements of historical facts,
included in this press release that address activities, events or
developments that the company expects, believes or anticipates will or
may occur in the future are forward-looking statements. Such statements
are subject to a number of assumptions, risks and uncertainties, many of
which are beyond the control of WPX. The forward-looking statements in
this press release are made as of the date of this press release, even
if subsequently made available by WPX on its website or otherwise. WPX
does not undertake and expressly disclaims any obligation to update the
forward-looking statements as a result of new information, future events
or otherwise. Investors are urged to consider carefully the disclosure
in our filings with the Securities and Exchange Commission atwww.sec.gov.